Refinance Your Old Loan. Bada Bing. Bada Boom. Refinance Your

P.O. Box 830742
Richardson, Texas 75083-0742
Community Investments
(continued from page 4)
What's more, as your goals and/or time
frame change, so should your asset
allocation. For example, as you near
retirement, your assets should shift to a
more conservative allocation, oriented more
toward capital preservation rather than
growth.
has different financial characteristics that
make it more or less appropriate depending
on the objectives you seek. With this
knowledge, we can utilize a combination of
asset classes to construct an effective and
well-balanced portfolio that will help offset
the volatility of the financial markets.
Second, organize your assets into four
categories: stocks, fixed income, cash
equivalents and other tangible assets, such
as real estate. Using this information, you
can determine if your current allocation is
designed to meet your specific needs and
goals. If you are saving for your newborn's
college education, for instance, a more
aggressive stance utilizing stocks may be
more appropriate for that portion of your
portfolio earmarked for college funding.
However, once college is right around the
corner for your child, this part of your
portfolio should include more bonds and
cash than stocks to help provide protection.
Finally, it is critical that we review your
allocation regularly. In order to ensure the
decisions made are on target to meet your
objectives, monitoring your allocation and
making necessary modifications in light of
industry conditions and changes in your
goals or financial situation is essential.
For more information about how asset
allocation can provide the balance your
portfolio needs in both good and bad
markets, please contact me today.
Now that you have a firm grasp of your
financial situation, we can work together to
create an asset allocation model tailored to
your needs. We'll explore the various
investments and how different types stocks, bonds and cash investments - can
work together to help achieve your goals.
As I am sure you are aware, each asset class
Securities are offered exclusively through Raymond James
Financial Services, Inc. Member NASD/SIPC, an independent
broker/dealer, and are not insured by FDIC, NCUA or any
other bank insurance, are not deposits or obligations of the
bank, are not guaranteed by the bank, and are subject to
risks, including the possible loss of principal.
Refinance Your Old Loan.
Bada Bing. Bada Boom.
Refinance at Community Credit Union Today!
Getting squeezed by your current loan? Let my associates at Community Credit Union take care of
it. From now until May 1, 2003, you can refinance at lower rates – meaning you can keep more of
your money in the family. Plus if you refinance $20,000 or more, they’ll throw in a little something
extra: Cash back! Visit one of their convenient branch locations or communitycu.org today to take
care of your old, high-rate loan – bada bing, bada boom!
Look How Much You Could Save!
CREDIT CARD
HOME EQUITY
Interest Rate
Loan Amount
Payments to
Pay Off**
Interest Paid
Your
Credit Card
14.99% APR
$5,000.00
31 Payments
$1,031.78
CCU’s
Unsecured
Refinance
6.99% APR
$5,000.00
28 Payments
$419.55
Interest Rate
Loan Amount
Average Mo.
Payment
Interest Paid
Your Home
Equity Loan
8.99% APR
$20,000.00
$321.68
$7,021.13
CCU’s Home
Equity
Refinance*
5.99% APR
$20,000.00
$292.08
$4,534.32
SAVINGS $2,486.81
SAVINGS $612.23
AUTO
Interest Rate
Loan Amount
Average Mo.
Payment
Interest Paid
Your Car Loan
5.99% APR
$20,000.00
$608.39
$1,892.40
CCU’s Auto
Refinance
3.99% APR
$20,000.00
$590.42
$1,248.93
SAVINGS $643.47
What banking should be.
www.communitycu.org • 972-578-5000
APR=Annual Percentage Rate. Rates subject to change. APR can vary based on creditworthiness and terms of the loan.Normal credit standards apply. All loans subject to normal credit standards. No other discounts apply. Promotional
rates only valid on non-CCU refinanced loans. Promotional rates are not valid on Line of Credit or Mortgage loans. Some restrictions apply on cash-back incentive. Call 972-578-5000 for more details. *Home Equity loans can only be
refinanced every 12 months. No fees apply on a Home Equity loan under $49,999.99. **Based on a $200 monthly payment. Offer valid until April 1, 2003.
Volume 8 Number 2 April 2003
COMING SOON–
SBA Loans!
CCU will soon be an SBA Lender.
With an SBA loan, your business can
take advantage of • Long-term financing,
with flexible terms
• Up to 90% financing
• Fast, convenient approval
For more information contact our
Business Lending department at
972-516-3633.
MEMBipsER
A Newsletter for Community Credit Union Members
200,000 members and growing!
Get Everything
with Beyond
Free Checking™
• Free Debit Card
• Overdraft to a Line of Credit
or Savings Account
• No Minimum Balance
• No Per Check Charge
• No Check Limit
ith our “Beyond Free Spree” you could
win one of four $1,000 shopping sprees
just for opening a CCU checking
account. Starting April 1, 2003, everyone
that opens a CCU checking account will be
automatically entered in our “Beyond Free
Spree” contest – celebrating our new Beyond
Free Checking™ account.
W
• Free Online Banking
• Free Unlimited Offsite ATMs:
Use your card at any ATM
worldwide – and never pay
a CCU service fee!
• Free Qwik Pay: Pay bills quickly
and safely online for free. Funds
will automatically be withdrawn
from your checking account and
each transaction will appear on
your monthly statement.
• .25% Loan Discounts
• Check Protect: Accidentally write a
check you couldn’t cash? Not a
problem. Check Protect will cover
for you, up to your assigned
overdraft limit, for the cost of an
insufficient funds fee.
Visit online at www.communitycu.org
to open your Beyond Free Checking
today.
No dividends will be paid. $30 NSF Fee still applies. A minimum of $25 is
required to open this account. No minimum balance is required after opening
the account. Account requires a minimum direct deposit of $600 per month.
†.25% loan discount not available on Mortgage, Line of Credit or some terms
and balances of Home Equity and Home Improvement Loans. Normal Credit
Standards Apply. *NSF fee and off-site, non-CCU ATM charges still apply.
††Only available on Beyond Free Checking and Ultimate Checking Accounts.
Accounts must be in good standing for 90 days. Must bring your account back
to a positive balance (not overdrawn) at least once every 30 days.
What could you do with $1,000? You could
look beyond good in a new summer
wardrobe! Or walk away with beyond
fantastic camping gear. Or even redecorate a room to beyond perfection. You name it because
if you’re a winner, you can choose where you want your $1,000 shopping spree. Now that’s
beyond flexible.
Whether your name is drawn or not, you’re still a winner. Because if you open a Beyond Free
Checking - you get it all. Free ATMs. Free Bill-Pay. Free Home Banking and much more. By
signing up for Beyond Free Checking, you get everything and you lose nothing. Even better,
you might win something!
It’s simple to play. Just stop by any Community Credit Union branch or visit us online to open
a new CCU Checking account. Take your checking to the next level and get your chance to
win $1,000 to spend wherever you like. But act fast because this promotion ends
May 31, 2003!
Entries will be taken until May 31, 2003. Four winners will be drawn and announced on June 10, 2003. Your name will be automatically entered in the contest when you open a new
CCU consumer checking account or you can stop by any CCU location and fill out an entry form. No purchase necessary to win. Only one entry per person. Winners will be able to
choose the Greater Dallas Area retailer from where they would like their $1,000 gift certificate. CCU Board of Directors, employees and their families are not eligible to win. See a CCU
branch for all giveaway rules and restrictions.
What banking should be.
(972) 578-5000
www.communitycu.org
G REAT D EALS
Holiday Closings
• Just started a career. While you’re in school,
it is almost impossible to save money. So
when you start your career and can afford to
buy a home you may not have money for the
down payment. This is when a 0% Down
Mortgage can save you in the long run.
Mon., May 26. . . Memorial Day
Fri., July 4 . . . Independence Day
You can still handle your banking
needs through any of the following
convenient 24-Hour Services:
• Website: www.communitycu.org
• TouchTone Teller: (972) 578-6000
• More than 75 ATMs
• 24-Hour Convenience Centers
• Prefer to invest the money. Regardless of
whether you put 5% down, 20% down or 0%
down, you always build equity at the same
rate. The aspect of buying a home as a good
investment holds true regardless of the down
payment. So while mortgage rates are low
and the cost of funds are cheap, you may
prefer to invest your money in another
savings vehicle.
Employment Opportunities
Looking for a change? Explore
employment opportunities by visiting
us at www.communitycu.org. We
offer full benefits including health,
life and long-term disability
insurance, company paid
contributions to 401(k) and tuition
assistance. For more information,
call our Job Line at (972) 509-2000.
Upcoming Branch Openings
May 2003
Stonebriar In-Store
(Albertson’s)
Legacy at Lebanon
August 2003 Frisco In-Store
(Albertson’s)
FM 720 at FM 423
August 2003 Dallas In-Store
(Albertson’s)
Forest Ln. at Marsh
es…it sounds like a dream but it’s true.
CCU offers a mortgage loan that requires
no down payment. The only money out of
your pocket is for closing costs. Oh – and you
don’t even need perfect credit. Our 0% Down
Mortgage loan is available to all credit and
income levels. So whether you make $30,000
or $300,000 per year, this loan might be just
what you need.
Y
Here just a few reasons why you might want
to take advantage of our 0% Down Mortgage.
• Need to spend the money on moving,
furnishing or remodeling expenses. There
are all sorts of associated expenses with
buying a home. You may have saved for the
down payment but won’t have any money
leftover for all the general expenses that occur
the first few months of being in a new
property.
For more information on whether a
0% Down Mortgage is right for you, simply
call our us at 972-578-5000 or visit us at
www.communitycu.org and click on the
MemberTips icon.
COMING SOON:
New Advantage Pack
Membership Has Its Advantages
It’s easy to stay in touch.
Main Phone Number
(972) 578-5000
Monday-Friday
7 a.m. to 7 p.m.
Saturday
9 a.m. to 1 p.m.
Metro
(972) 562-2020
Toll Free Number
(800) 578-9009
Business Lending
(972) 516-3633
Call Center
(972) 578-5000
Community Investments
(972) 578-5000
Community Title
(972) 867-3445
LoanLine
(972) 578-LOAN
Mortgage Department
(972) 578-5000
TouchTone Teller
(972) 578-6000
TouchTone Teller Metro
(214) 544-7753
TouchTone Teller Toll Free (866) 282-1601
Home Banking
www.communitycu.org
Branch & ATM Locations
our Community Credit Union checking
account gives you unparalleled financial
freedom. Now Community Credit Union
wants to offer you something to protect that
freedom – not to mention give you a lot of
perks!
Y
Introducing Advantage Pack, the valuable
package of perks that can be added to any CCU
checking account. Advantage Pack costs a little
but offers a lot. Look at the benefits you get:
• Concierge service from over 80,000
vendors worldwide
• 10% cash bonus on scheduled airline travel,
room accommodations and car rentals
• 50% discount on standard room rates at
participating premium hotels
For a current listing of our ATM and
branch locations, please visit our
website at www.communitycu.org.
• Premier Recreation Program: discounts
on services for golf, recreational activities and
ski packages
Shared Branching
• Home care and repair savings
For a list of participating credit unions
nationwide, visit www.creditunion.net.
• Discount movie theater tickets
• Get Up & Go: complimentary lodging
services from participating providers
• Prescription drug discounts
• Cash rebates on everyday purchases
• Coupons for groceries, clothing and more
• Homeowner reference library
with “how-to” guides
Advantage Pack gives you advantages whether
you’re out and about on the town or jet setting
around the globe. It’s the perfect add-on for
people who want to live life to the fullest. Plus
it does some “double-checking”– protecting you
in the event of a problem with features like a
$100,000 accidental death insurance policy.
It may sound cliché, but the package practically
pays for itself. Anywhere from $2 to $7 a
month, depending on your relationship,
Advantage Pack is yours. It’s a small price to
pay for so many benefits.
Be on the look out in May 2003 for more
information on how you can sign up for our
new Advantage Pack.
2
G REAT D EALS
JUST LOOK HOW MUCH
YOU CAN SAVE WITH
CCU’S REALTOR®
CASH-BACK PROGRAM!
BUYING OR SELLING A HOME
Buying/Selling Price of Home
$120,000
3% REALTOR® Commission
$3,600
Total 20% Cash-Back After Close $720
t's simple. You contact a CCU mortgage specialist and they will
put you in touch with a participating REALTOR® to help you buy
or sell your house. After the close of the loan, you will receive a
20% rebate from your broker. Plus if you sell your home and buy
another one all through our REALTOR® Cash-Back Program, you are
eligible for both rebates.
I
How does it work?
If you are buying a home, just call CCU's Mortgage department at
972-578-5000. They will put you in contact with a REALTOR® in the
program and pre-qualify you for a mortgage loan. Once you have
found a home, CCU will work with your REALTOR® to process the
loan.
If you are selling a home, again just call us at 972-578-5000. One of
our Preferred REALTOR® will be able to help you sell your home
fast without the hassle of listing it yourself. If you are already
working with a REALTOR®, you are not eligible for this program.
For more information, call our Mortgage department at
972-578-5000!
Member must call CCU's Mortgage department prior to hiring a REALTOR® to help buy or sell their home. If you are already working
with a Realtor®, you are not eligible for this program. If you are buying a home, you must finance your mortgage loan through CCU to
be eligible for this offer. Rebate is paid after loan is closed. On rebates greater than $600, members will receive a 1099-MISC tax form.
FREESeminars!
Mortgage Seminar
Whether you’re a first-time homebuyer,
ready to refinance or just want to learn how
to research your mortgage options online –
CCU’s mortgage lenders and title company
representatives will be on hand to answer
your questions.
When:
Wednesday, April 23
6:30 - 8:00 p.m.
Location: Community Credit Union—Plano
1309 W. 15th St., Fourth Floor
RSVP:
Jane Neidenfeuhr
(972) 578-5000 ext. 4484
Pre-Retirement Seminar
Ready to retire? Avoid common mistakes and
make that life’s savings work for you. It’s
never too early to get your plan in place.
Community Investment representatives will
be available to answer questions.
Location: Shades of Green
8801 Coit Road, Frisco
RSVP:
When:
Tuesday, April 29
6:30 p.m.
Location: Richardson Civic Center
Arapaho at Central Expressway
RSVP:
Melissa Brennan
(972) 578-5000 ext. 6552
Texas Smartscape
Save money, save water, save the
environment by landscaping the smart way
– tips from the experts. A light meal and
door prizes will be provided.
When:
Thursday, May 8
6:00 p.m.
3
Melissa Brennan
(972) 578-5000 ext. 6552
Long Term Care Insurance
Do you need it? How do you select the best
policy for your needs?
When:
Tuesday, June 10
6:30 p.m.
Location: Richardson Civic Center
Arapaho at Central Expressway
RSVP:
Sharla Jozefiak
(972) 578-5000 ext. 7411
MEMBERS
Only
The Basics
about
our Free
Financial Counselor
kind of services does the
Financial Counselor offer?
Q: What
A
: I help members with issues ranging
from budgeting, credit repair, and
credit card repayment to planning for
college and retirement. I also help
members evaluate their overall
financial health from credit to
insurance, taxation, and estate
planning considerations to short and
long-term savings.
Q
: Can you help me with investment products?
A
: I do not sell investment products,
but can instead answer your questions
about the features and benefits of
different type securities in general,
what to consider when investing, how
to determine your risk tolerance, and
how to read statistical information
regarding securities. For specific
investment recommendations and
sales, I refer members to the
appropriate Investment Representative
at Community Investments.
Q: How do I set up a meeting?
A
: You can call or e-mail for
appointment times. Sometimes it
is possible to meet that week, but
most appointments need to be booked
a week in advance. Most meetings last
an hour to an hour and a half. Because
my calendar books so quickly, I ask
that cancellations and rescheduling be
done as early as possible so that other
members can be accommodated.
Q
: What kind of information will you need
before we meet?
A
: When I meet with members I like to
take a look at their overall financial
picture. I usually ask that at least one
day prior to our meeting that members
fax me some or all of the following
information: statements from other
financial institutions, a list of monthly
expenditures, copies of credit card
statements, copies of auto and
homeowners policies, and 401k/IRA
statements.
Q: Are there any fees for your services?
A
: I am a Community Credit Union
employee, and my services are free of
charge.
Q: Where is your office?
A
: I can meet you in our Call Center
conference room, located in Plano, or
schedule an appointment at the branch
closest to you - Monday through
Friday during business hours.
To contact our Free Financial
Counselor, just call 972-578-5000 or visit
our website at www.communitycu.org
and click on the Member Tips icon.
COMMUNITY INVESTMENTS
Time Heals
All Wounds
Jamie Richardson
Vice President, Community Investments/Registered
Principal Raymond James Financial Services, Inc.
I
t was once said that patience - in its
truest form - is a virtue. Patience in
the stock market, however, is a rarity.
When markets are volatile, many
investors find themselves wanting to
move out of sectors that have been
vulnerable into ones that are thriving.
Unfortunately, attempting to time the
market is never a wise decision and can
often backfire, as investors tend to get
out of the slumping sectors once the
damage has been done and into the
"hot" ones after prices have already
increased.
That's why you need to concentrate on
keeping your portfolio broadly
diversified among a variety of asset
classes. By doing so - and remaining
patient through any volatility you may
encounter - at least some portion of your
portfolio may reap respectable returns even if
other parts have seen better days.
markets. In fact, studies have shown that how
investments are allocated is of much greater
significance in determining overall portfolio
performance than what the individual
investments are: More than 90% of investment
performance can be attributed to asset
allocation, while less than 10% is attributable to
individual investment selection or luck.
This process is called asset allocation. Not only
does it give you both structure and discipline
so you're better prepared for market turmoil
and economic downturn, it also provides the
right investment mix of stocks, bonds and cash
for your circumstances. What's more, asset
allocation is designed to help you better
manage risk, match your investments with your
goals and enhance the stability of returns in
both good and bad markets.
With these figures in mind, here are some
general guidelines for you to follow when
considering the allocation of assets in your own
portfolio.
First, determine your goals and time frame. Do
you want to save for retirement? Do you want
to buy a second home? Are you interested in
traveling the world? Your asset allocation
should reflect your objectives, while balancing
risk and return potential accordingly. Taking
these factors into consideration will help ensure
you don't wind up with an allocation that's too
conservative or aggressive.
The value of asset allocation is obvious when
equities markets are depressed and in periods
of broad economic recession, as we have seen
during the past two years. For example, just
two years ago, many investors were
inappropriately over-weighted in stocks - or, to
be more specific, in technology stocks. Had
these investors employed an asset allocation
strategy and diversified their investments based
on their goals, time horizon and risk tolerance,
they might have fared better during the recent
bear market. Clearly, this has been a valuable
lesson for many.
(continued on back page)
However, as markets rebound - as they appear
to be doing to some degree now - this lesson
may quickly be forgotten. More than just a few
investors may once again be tempted to chase
the next "hot" stock . . . whatever it might be.
Yet asset allocation is also critical in rising
Securities are offered exclusively through Raymond James
Financial Services, Inc. Member NASD/SIPC, an independent
broker/dealer, and are not insured by FDIC, NCUA or any
other bank insurance, are not deposits or obligations of the
bank, are not guaranteed by the bank, and are subject to
risks, including the possible loss of principal.
4
M EMBER O NLINE
™
eStatus
24-hour access to
your mortgage loan!
N
ow, you can enjoy 24-hour access to your
mortgage loan information through CCU's
new eStatusTM.
What does eStatusTM offer?
• Access your current mortgage loan payments
and payment history
• Check out convenient payment options
• Request current payoff information
• and so much more!
How do you get started?
It's simple. Just visit CCU’s website at
www.communitycu.org and click on the Online
Services tab. There you will find a link to eStatusTM.
You can register online from the eStatusTM page. All
you need is your loan number (which can be found
on your loan coupons or at the bottom of your loan
documents) and your social security number. Once
in you will be asked to create a user name and
password. That is all it takes. Really!
Should you have questions about CCU’s new
eStatusTM service just give us a call at 972-578-5000.
CCU SPONSORS —
WILDFLOWER!
ARTS & MUSIC FESTIVAL
Credit vs. Debit?
W
e’ve all done it. You’re out shopping, ready to use your
debit card, and the sales clerk asks “debit or credit”? You
really don’t know what the difference is. It is a debit
card, so you say “debit,” right? Well… not really.
Wildflower! Arts & Music Festival is set for
May 9-11, 2003, at Galatyn Park in Richardson.
The festival is located just minutes north of Dallas
at US 75 and Galatyn Parkway.
By choosing “debit” and entering your PIN (personal
identification number), your transaction is treated as an ATM
transaction. “Credit” transactions require a signature, which
helps protect you against fraud. By signing the receipt the
clerk can check to make sure it is really you. This will keep
your PIN protected. The less you use your PIN, the less chance
there is for someone to acquire it.
Here are just a few of the musical acts for 2003 Taylor Dayne
Peter Frampton
Chuck Negron of
Three Dog Night
The Old 97's
The Marshall Tucker Band
The Domino Kings
Steve Azar
Smashmouth
Another benefit to choosing “credit” can be found on your
monthly statement. When you choose “debit”, all that appears
on your statement is the street address of the retailer. If you
choose “credit”, the actual name of the retailer will be listed on
your statement. This makes it much easier to reconcile your
checking account.
For entertainment schedules, ticket prices and
general information visit the festival’s website
at www.wildflowerfestival.com.
So save your PIN for ATM use and choose “credit” when
making purchases, it has its advantages.
5
2002 annual
It is no secret that 2002 was a difficult year for many
institutions. We are humbled that so many people have
made us their choice as a financial partner. We wish to
thank all our members for our continued growth and
success. You are the reason we exist. You have made us
what banking should be.
of Condition
TOTAL INCOME (in millions)
20
5
10
0
’01 ’02
0
400
’01 ’02
0
’01 ’02
’98 ’99 ’00 ’01 ‘02
’98 ’99 ’00 ’01 ’02
ASSETS
as of December 31, 2002
(in millions) 2002
863.3
200
Net Loans
Mortgage Servicing Rights
Cash & Investments
Accrued Interest Receivable
Build, Land, Furniture & Equipment
Federal Share Insurance Fund Deposit
Other Assets
Total Assets
INCOME DISTRIBUTION
786.7
600
10
30
666.7
800
531.6
15
40
424.2
50
1000
20
60
LOANS (in millions)
1,161.3
70
TOTAL ASSETS (in millions)
DEPOSITS (in millions)
2000
Other
Income
1,061.5
Investment
Income
Interest
on Loans
851.1
Service – Innovation was important to our growth in
2002 but equally important was our commitment to
service. Unlike many organizations, however, we don't
limit our view of service to just those that walk in our
doors. After all, we define
community as all the lives we might touch where we
live and work. In 2002, we raised over $28,000 for the
March of Dimes. We donated to over 200
organizations. Our employees volunteered over 4,000
hours in community service and we awarded over
$30,000 in scholarships. As a result of this giving of
money, time and talent, this year, for the third year in a
row, we were voted the best financial institution in
Collin County in the DFW Suburban Newspaper
Readers' Choice Awards.
STATEMENT
706.3
We even had some fun with our 50th anniversary and
thanked our members for their loyalty by having an
online trivia contest that awarded over $5,000 in prizes.
Beyond Free Checking is just one of our
new products in 2003. We also have
654.1
In 2002, we added state-of-the-art technology products
to our financial capabilities. We opened an Online IRA
Service Center, began offering Account Aggregation and
initiated Online Statements. We also enhanced our line
of business services, adding an upgraded business
checking account and new merchant services to our
corporate products. We also beefed up the convenience
of Mortgage Services by offering Online Instant
Mortgage Approval.
Finally, there is the advantage of
membership. We serve member/owners,
not customers, and we have a personal
stake in their satisfaction. Our members
are our owners, not some faceless
out-of-state corporation. That keeps us
on our toes providing excellent products,
convenient locations and great deals on
rates with exceptional service. Hey, we
heard you...that's why CCU is what
banking should be.
1,032.6
Innovation – Providing innovative services through
convenient delivery systems has been part of our vision
for many years now. In 2002, we continued to expand
our grocery store locations, adding Albertsons In-Store
branches in Wylie, Grand Prairie, Spring Valley Crossing,
as well as a Tom Thumb In-Store facility in Garland.
The list of services goes on and on...
aggressive savings options, investment
services, SBA loans... but sleek financial
services are just a part of the picture.
We have over 32 locations across north
Texas and will be adding three new
locations in 2003.
944.5
We believe this remarkable growth is attributable to two
factors: 1. Our innovation, 2. Our relentless focus on
service.
You get free off-site ATM usage on this
account at any ATM worldwide and we
won't charge a dime. You get free online
bill-paying service, a free VISA check
card and free online banking. You also
enjoy loan discounts of .25% with
automatic debit and overdraft access to a
line of credit or savings account. With
Beyond Free Checking, you get just
about everything you want in a checking
account. Now some places might say
they do something similar, but check the
fine print. Usually you have to keep
large minimum balances or are limited in
the number of checks you can write.
You lose flexibility. But not at CCU. Our
Beyond Free Checking has no minimum
balance, no per check charge and no
limit on the number of checks you can
write. So you get everything and lose
nothing.
744.1
Our Mortgage Services continued to post strong
numbers as well. By year-end, we closed over 1,176
mortgage loans for over $141 million dollars.
And our mortgage loans outshine them
all. Rates are really aggressive
everywhere right now, but as a credit
union, we've had 50 years experience in
bringing not just a good rate but the best
rate to our members. We have over
100 loan options to choose from. We
service our own loans so you deal with
us - someone you know - for the life of
the loan. We even pay interest on your
escrow!
625.8
We expanded our presence not only in the business
sector, but also in the number of families we serve. Last
year, 26,000 people in our 57 communities became new
members, raising our membership to 206,000.
We have the best financial products
around. Really. The best. Take our new
checking account. Naturally it's free, but
it's so much better than other free
accounts we're calling it Beyond Free
Checking™.
586.9
The Partnership Program, our alliance with local
businesses, grew aggressively with 49 new companies.
Now, 628 organizations with more than 150,000
employees offer the special benefit of CCU membership
to their associates.
Check Protect, a safety net for overdrafts.
We’re introducing our Advantage Pack, a
great way for you to get discounts on
travel and so much more. We are even
upgrading our Qwik Pay, online billpaying service.
Then welcome to Community Credit
Union. We're what banking should be.
17.9
19.6
Growth – Our total assets continued their dramatic
climb, ending the year at $1.2 billion. Our loans were up
9.82% and deposits increased 9.33% over 2001 figures.
Great financial products? Convenient
locations? Competitive rates? Smart,
helpful service?
5.0
Community Credit Union began its 51st year in 2002 and
as in past years, it was defined by growth, innovation
and service.
banking should be?
4.8
Members
WHAT DO YOU THINK
60.4
LETTER TO
GARY BASE
President/CEO
58.0
JAMES MCCARLEY
Chairman of the Board
report
863,336,821
1,240,705
226,739,700
4,168,314
43,393,887
8,947,915
13,476,670
1,161,304,012
’98 ’99 ’00 ’01 ’02
LIABILITIES & MEMBERS INCOME
Deposits
Interest & Accounts Payable
Reserve Fund
Other Liabilities
Total Liabilities
1,032,627,732
16,330,774
86,431,562
25,913,944
1,161,304,012
Operating Expenses
Interest Expenses
Reserves
TOTAL
$41,664,421
$23,097,416
$19,987,125
$84,748,962
6
E ASY L IVIN ’
Drive Down Your Fuel Costs
T
he cost of filling up keeps going up.
Unfortunately, you can’t control gas prices – but
you can control how often you get gas. You may
think you use the same amount of fuel every week.
In reality, how you drive has as much to do with
your car’s fuel economy as how much you drive.
Here are a few ways to make your next tank last
longer.
Cruise When Possible: Stay away from congested
areas and use cruise control to maintain a constant
speed. Driving an automatic? Then use an overdrive
gear at cruising speeds.
Driving Fast=Burning Gas: Consider this. If you
drive at 70 mph instead of 55 mph, your fuel
economy will drop 17 percent. Similarly, if you go
65 mph, you will lower your fuel economy by 10
percent.
Mustard or Grey Poupon: Don’t buy into the
hype. Many cars run better on plain old low-octane
fuel. Before you overindulge, check your owner’s manual to find out
your car’s fuel requirements. Premium, high-octane fuels do not
necessarily help your car and cannot improve fuel efficiency.
Easy on the Pedal: Do your passengers give you nasty looks for
hitting the gas or slamming on the brake? Then step gingerly, my
friend, because doing either one not only wastes gas but also pollutes
the atmosphere with the same amount of carbon monoxide emissions
as 30 minutes of steady driving.
Lose Some Cool Points: The harder you run your A/C, the more it
will drag on your engine’s efficiency. Instead of cranking the A/C the
minute you start your car, roll down your windows and drive a ways
to let some of the heat out first.
Give Your Tires an Air Full: Properly inflated tires help you get the
most out of every tank. Fuel economy will drop 1 percent for every 3
pounds your tires fall below their recommended pressure.
Pack Light: Your fuel economy drops 1 percent for every 100 pounds
of excess weight in your trunk. The bottom line? If you’ve got junk in
your trunk, get rid of it.
Why Rush: Improve your gas mileage and your mood by avoiding
the morning and evening rush hours.
Take a Vacation from Your Car: The most obvious way to lower
fuel expenses? Avoid driving. Granted, it’s easier said than done, but
consider public transportation alternatives, as well living in a
pedestrian-friendly area.
Maintain Yourself: If your car works hard, your gas tank – and you
– will pay the price. You can avoid this by getting regular
maintenance, paying particular attention to your oil, transmission and
spark plugs.
Soup Up Your Savings with CCU’s
Certificate Sale!
TERMS
dd extra punch to your savings without tying up your funds
in a long-term certificate with CCU’s Certificate Sale. We’ve
increased our certificate rates to offer you a higher rate of
return while providing a safe, short-term way to save.
A
You’ll want to hurry because these rates are only available
April 1 through May 31, 2003. Visit a CCU location or call
us at 972-578-5000 for more information.
Rates quoted as of April 1, 2003. APY=Annual Percentage Yield. Promotional rates available on only terms specified above.
Rates valid on new CCU certificates and IRAs and renewing CCU certificates and IRAs. Standard terms and conditions still apply.
Contact CCU for further information regarding applicable penalties and terms.
7
RATES
WAS
NOW
91 Day
1.31%
1.50% APY
6-Month
1.50%
1.75% APY
12-Month
1.75%
2.50% APY